Biochips Market Expected to Expand at a Steady 2021-2028 | Randox Laboratories, Fluidigm Corporation, Abbott Laboratories, Agilent Technologies, Inc.

Rising adoption of biochips for multiple research applications, applications in personalized medicine, applications for treating cancer, and active research and development by major players to improve biochip technologies are all contributing to the global biochip market growth. Manufacturers are concentrating on introducing novel biochips that meet customers' preferences and needs. In February 2018, Micralyne, Inc. developed Silicon MicraFluidics technology, a series of standardized microfluidic process technologies that allow for the rapid design and implementation of microfluidic-based products. The FluChip-8G Influenza A+B Assay by InDevR Inc. is focused on amplification, DNA microarrays, as well as machine learning. In December 2017, 3dbiosurfaces and STRATEC Consumables GmbH introduced the 3D NS-NC slide and is used in proteomics research. Micronit Microtechnologies, Axxicon, and Helvoet partnered up in November 2017 to fulfill the growing demand for high-volume polymer microfluidic products around the world. The global biochips market is expected to grow due to active research and development of biochips technologies such as microfluidics and microarrays.

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A new blood test based on biochip has been developed to detect higher risk of Alzheimer's disease, and when combined with medical and family history, it has the potential to significantly advance personalized medicine. The results of this test were presented at the 68th American Association for Clinical Chemistry (AACC) scientific meeting in 2016 by researchers from Randox Laboratories and the Medical University of Vienna. In August 2017, NovellusDx, an Israeli firm, used biochip technology to rebuild a patient's genetic map in order to find gene mutations that cause cancer. This technology can assist oncologists in selecting the best cancer treatment for their patients. Researchers from Osaka University in Japan created a diagnostic lab-on-a-chip in February 2018 by combining terahertz waves with a microfluidic device. The integration of recent innovations with existing biochip technologies is expected to improve the efficacy of such products even further.

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The global biochips market is expected to grow at a 16.2 % CAGR from 2017 to 2025, owing to ongoing product launches by main players such as Thermo Fisher Scientific and Illumina, Inc.

Increasing market competition has resulted in a greater focus on continuous product development by main players to increase their market share. This is expected to boost the global biochips market growth during the forecast period.

The DNA Chips segment is expected to account for the largest share in the global biochips market at a CAGR of 16.2 % during the forecast period, owing to applications in transcriptomes and proteomes, disease diagnosis, and others.

The microarray technology segment is expected to dominate over the forecast period because of its applications in diagnosis, biotechnology, drug discovery, and development.

Some of the key players operating in the global biochips market are PerkinElmer, Inc., Fluidigm Corporation, Illumina, Inc., Randox Laboratories, Abbott Laboratories, ThermoFisher Scientific, Inc., Agilent Technologies, Inc., and Bio-Rad Laboratories, Inc.

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